Covance Supports Growth in Vaccine Market, Expands Preclinical Research Services with New Dedicated ABSL-2 Vivarium
— Covance's dedicated state-of-the-art ABSL-2 facility offers fully-integrated vaccine and biologics services, including expanded capacity, multi-species and fast turnaround —
Princeton, NJ, May 24, 2007 — Covance Inc. (NYSE: CVD) today announced the opening of a dedicated state-of-the-art ABSL-2 containment vivarium to support growing demand for full-service vaccine testing. The 21,000-sq. ft. facility, designed to support human and veterinary vaccine and biologics testing studies, further expands Covance's integrated vaccine service capacity.
"A paradigm shift in the vaccine market is taking place, as the biopharmaceutical industry is using vaccines more than ever as preventative solutions for managing health on a global scale," said Boris Predovich, Vice President of Covance ImmunoTechnologies. "We are committed to supporting the increasing demand for these services while mitigating the risk of developing vaccines. Our ABSL-2 facility expands our capacity to offer fully-integrated outsourcing solutions supported by decades of vaccine and biologics expertise."
The new ABSL-2 vivarium offers multi-species capacity for GLP and non-GLP vaccine research and development, along with preclinical and post-manufacturing testing. Covance's preclinical research services include rapid quote turnaround and project initiation, on-site animal access supporting large studies, and web-based study access to complete testing required for quick and successful Investigational New Drug (IND) filing. Covance delivers exceptional project management and complete data reports required for Investigational New Drug (IND) filing.
Increasing study complexity, coupled with the demand for scientific and operational excellence to significantly reduce study timelines, are the driving forces for growth in outsourcing of preclinical and lot-release vaccine services.
In tune with the needs of its customers, Covance offers more than three decades of global scientific experience, regulatory knowledge and comprehensive resources essential to meeting its customers' vaccine and biologic testing requirements.
Covance, with headquarters in Princeton, New Jersey, is one of the world's largest and most comprehensive drug development services companies with annual revenues greater than $1.3 billion, global operations in more than 20 countries, and more than 8,100 employees worldwide. Information on Covance's products and services, recent press releases, and SEC filings can be obtained through its website at www.covance.com.
Statements contained in this press release, which are not historical facts, are forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements including the statements contained herein regarding anticipated trends in the Company's business are based largely on management's expectations and are subject to and qualified by risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, competitive factors, outsourcing trends in the pharmaceutical industry, levels of industry research and development spending, the Company's ability to continue to attract and retain qualified personnel, the fixed price nature of contracts or the loss of large contracts, and other factors described in the Company's filings with the Securities and Exchange Commission. Covance and the Covance logo are registered service marks of Covance in the United States and other countries.
Covance and the Covance logo are registered service marks of Covance in the United States and other countries.